The court ordered FBR to present a 10-year record of the company.

ISLAMABAD  – Supreme Court (SC) on Wednesday has sought tax record of Axact company and its news channel Bol TV in fake degrees scam from Federal Board of Revenue (FBR).

During the hearing, Chief Justice of Pakistan (CJP) Mian Saqib Nisar directed the officials to identify from where billions of rupees are coming. He also termed allegations against the company as serious and asked for the income source as Bol TV is not taking any advertisements.

The court ordered FBR to present a 10-year record of the company. We cannot allow anyone to malign country’s name, CJP said.

Responding to the issue of owner Shoaib Sheikh’s bail, Justice Saqib said, “Let him rest in the jail as he committed crime.”

Meanwhile, Federal Investigation Agency (FIA) also informed the court about shares of Shoaib Sheikh in foreign companies.

 Fake degrees scam

On May 27, 2015, FIA had detained at least 32 employees including the executive body members and CEO during raids in Rawalpindi and Karachi after the New York Times published a story about issuance of millions of fake degrees by Axact.

FIA had also seized the main server, computers and files from the office and demanded the company to provide web hosting records for the past ten years.

The officers had also traced printing press that published fake degrees and included its owner Abdul Rauf in the witnesses list. 58 of Axact degree-holders in Islamabad and Rawalpindi were identified while responses from more than 4500 foreign degree-holders were also been received.

After Axact, Bol TV was also banned due to accusations regarding illegal purchase of equipments in the channel. It was said that the equipments installed at the seventh and ninth floor of company’s office were been bought illegally. However, the channel restored its transmission afterwards.